PS Business Park COO resigns

John “J.P.” Petersen will resign as executive vice president and COO of PS Business Parks, serving since 2004.

“J.P.’s extraordinary efforts over the nearly 17 years he has been part of the team, and his leadership over the last year — one of the most difficult operating environments in our company’s history — have positioned the company for continued growth and delivery of significant shareholder value. We are grateful for his hard work and dedication, and we wish him the best in his future endeavors,” said Ronald Havner Jr., chairman of the board.

“On behalf of the entire PSB team, I would like to thank J.P. for his meaningful contributions over the years and wish him great fulfillment in his next chapter,” said Mac Chandler, president and CEO.

Other members of the company’s executive and divisional management teams will assume Petersen’s responsibilities while the company conducts an internal and external search for a new COO.